Stock market today: Nasdaq pops, Tesla surges after earnings with more heavyweights on deck

Tech stocks rose on Wednesday, outstripping the broader market as investors welcomed Tesla's cheaper car pledge and waited for the next rush of corporate earnings. The Nasdaq Composite rose roughly 0.6%, coming off a sharp closing gain. The S&P 500 was up 0.2%, continuing a rebound from its longest losing streak of 2024, while the Dow Jones Industrial Average fell 0.1%.

Tesla shares jumped nearly 12% after the EV maker's vow to speed up the launch of more affordable models eclipsed its quarterly earnings and revenue miss. That cheered up investors worried about growth amid a strategy shift to robotaxis and the planned cancellation of a cheaper model. The results from the first "Magnificent Seven" to report have intensified the already high hopes for Big Tech earnings, that the megacaps can revive the rally in stocks they powered.

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Stock market today: S&P 500, Nasdaq notch big gains as Tesla kicks off 'Magnificent 7' earningsThe wait for Tesla results is on as investors look to Big Tech earnings to buoy stocks.
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Stock market today: S&P 500, Nasdaq notch big gains with Tesla earnings on deckThe wait for Tesla results is on as investors look to Big Tech earnings to buoy stocks.
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Stock market today: Nasdaq futures pop, Tesla surges after earnings with more heavyweights on deckTesla's surge is putting Big Tech earnings center stage as investors look to megacaps to lift stocks.
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Stock market today: 'Magnificent 7' power stock surge after CPI-fueled sell-offInvestors were bracing for a wholesale inflation print, after a surprise uptick in CPI shook markets and undermined bets on interest-rate cuts.
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